The End of the Bond Bull Market May Be Nearer Than You Think

As the Fed targets the jobless rate, falling unemployment should concern investors.

The Federal Reserve has gone from QE3 to QE-forever, or so it would appear from its latest policy initiative to buy about $1 trillion a year in securities and keep short-term interest rates nailed to near zero until unemployment gets down to 6.5%.

That would suggest the central bank would be doing the exact opposite of taking away the punch bowl just when the party got going -- the description from William McChesney Martin, the...